Now, we normally wouldn't cover cable TV news, but more than half a million users ditching their cable companies is significant. The reason for such staggering losses is simple: the Internet is taking over. Cable is falling on the wayside as services like Netflix and Hulu continue to expand their offerings.
Cable companies are blaming the poor numbers on the weak economy but instead of embracing the Web, they're merely raising prices for remaining customers. Talk about digging yourself into a hole. In fact, Comcast admitted that its average customer revenue rose by 10 percent year over year to $136 per month. Charter's similarly jumped by nine percent to $126 monthly fee. Cablevision's price didn't increase, but monthly revenue per customer still amounted to a huge $149 per month.